South Korea Okays 12 Crypto Exchanges, new wave of money expected

South Korea is the place that many point for the start of the Crypto crash due to new regulations and restrictions coming in earlier this year. However, it may end up being the place where the new Bull rally begins. South Korea has approved 12 crypto exchanges saying they have adequate security measures and management to be able to be an exchange. These exchanges include Upbit and Bithumb. Some were upset with Bithumb because of a $40 million hack last month and people’s fund being frozen since then. However, overall, this is excellent news as regulatory approval will inspire confidence in large institutional money flowing into cryptocurrency hopefully in Q3 or Q4 of this year. I think more countries will start to provide a solid framework for cryptocurrency regulations and this will overall help the marketplace develop standards and convince more people that it is safe to join the market.